This file photo, taken June 4, 2020, shows stacks of import-export cargo containers at South Korea’s largest seaport in Busan, 450 kilometers southeast of Seoul. (Yonhap)
SEOUL, March 21 (Korea Bizwire) — The volume of cargo processed at South Korea’s seaports declined 2.3 percent in February from a year earlier, data showed Sunday, amid economic jitters caused by the new coronavirus pandemic.
Local seaports handled 118 million tons of cargo last month, compared with 121 million tons posted a year earlier, according to the data compiled by the Ministry of Oceans and Fisheries.
Processed export-import cargo, meanwhile, rebounded after 14 months of decline, rising 0.4 percent on-year. The ministry attributed the growth to rising overseas demand for sports utility vehicles and eco-friendly cars.
In February, South Korea’s outbound shipments of automobiles shot up a whopping 47 percent to $3.5 billion.
Container cargo processed at the seaports edged down 0.9 percent on-year to reach 2.21 million twenty-foot-equivalent units (TEUs), according to the ministry. TEU stands for a 20-foot equivalent unit.
The ministry added it was significant that the amount of containers processed at local seaports fell by a small margin in February, considering the month had fewer working days compared with the previous year.
(Yonhap)
